BIST100 Hit by Inflation: Critical Technical Levels Ahead

The BIST100 index briefly rallied at the start of the week on signals of geopolitical de-escalation, but reversed course following domestic inflation data, closing the trading day with a decline of 48 points. While risk appetite improved during the session on expectations of easing tensions between the US and Iran, allowing the index to test the 13.589 level, profit-taking sales accelerated due to concerns raised by the announced CPI figures.

Inflation Pressure and Technical Resistance

This volatile market trajectory once again highlights the weight of macroeconomic data on equity markets. The intraday volatility demonstrates investor sensitivity to data flow, while fragility in technical indicators shifts focus to key support levels. Surpassing the 13.900 resistance point appears essential for the continuation of the upward trend.

Support and Resistance Nodes

According to technical analysis data, the roadmap the index will follow is shaped by the following levels:

■13.460 points is monitored as the pivot level,

■13.540, 13.670, and 13.755 stand out as resistances in upward moves,

■In possible pullbacks, 13.330, 13.245, and the critical main support of 13.115 are kept under observation.

Dollar-Based Perspective

When viewed through the lens of foreign investors, dollar-based charts also provide significant signals:

■The resistance zone concentrates around 286.0, 288.7, and 290.5 levels,

■In downward movements, 281.5, 279.8, and 277.0 are determined as support points.

In the current landscape, while the selling pressure stemming from inflation data increases short-term volatility, the 200-day moving average at the 13.100 level serves as a significant safety zone for the long-term trend. Potential tightening steps by the Central Bank, by raising credit costs, could pressure corporate profitability and deepen technical corrections; however, a structural disruption in market dynamics is not expected as long as there is no permanent breakdown below this level.